E3.860 Assessments to withdraw relief, and interest on overdue tax
SEIS relief has to be withdrawn or reduced by an income tax assessment for the tax year for which the relief was obtained1. It cannot be withdrawn via self-assessment. Where the shares in question were acquired from a spouse or civil partner, the assessment will be on the person to whom they were transferred2.
HMRC may make an assessment for withdrawing or reducing the SEIS relief (or give such a notice) within 6 years after the end of the relevant tax year3. The relevant tax year is the later of the tax year4:
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